9.29.2020 - Buying Pressure

The stock market seems to be gaining buying pressure.

Using the IBD distribution day method, the QQQ (-0.45%) had a confirmation day yesterday. With all the evidence, it seems like the buyers are coming back into the market to overtake the sellers.

The only way to know for sure is to watch and see. Some risk-takers may start inching back into the market, setting stop-loss orders close to minimize losses, while risk-averse traders may wait for the confirmation of an uptrend.

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